GCPay’s audit trail is one of the most used features by our customers. Benefits for users include improved tracking, which results in faster SOV and change order approvals, and documenting a wide variety of changes that transpire throughout a project. All of these add up to tighter controls, fewer billing errors, and better performance management by accounting leaders. Because of the importance of this feature, we continue to enhance what the audit trail can capture.
GCPay recently enhanced the audit trail to record each time retainage on a project is locked or unlocked. Whether it's a manual unlock by a user or an automatic unlock by the system, you'll have greater visibility into a project’s retainage details. GCPay further ensures accountability by capturing the username of any user who performs lock or unlock retainage operations.
GCPay offers many standard reports that are easily accessible for all users under the “reports” tab. There are also more granular reports at the project, SOV, and AFP levels, however, here we will focus on the higher-level company reports. These high-level reports fall into three main categories: Accounting, Activity, and Other.
Accounting reports include all ePayment activity, accounts receivable detail, accounts payable detail, and any “unmapped” commitments just to ensure all pay app submissions are appropriately aligned with each project.
Activity reports were created by GCPay so users can get a quick look at all pending approvals so nothing gets delayed, and all pay app processes can move quickly.
Finally, the “Other” reports are designed for users to audit who has access to GCPay, the contact info for each job, and will provide a total summary of all jobs (both open and closed). These reports can not only help each user perform their job better but also allow owners to view necessary information that they require on projects.
Make sure to always check the GCPay Resource Center for the latest information on new reports and other new features and enhancements that are created by GCPay.
GCPay’s commitment to information security can’t be overstated. In May we provided an update about our conversion to the latest DevOps frameworks within our AWS environment, in continued pursuance of SOC2 Type II and ISO27001 certifications.
As a reminder, SOC2 is a voluntary compliance standard that means our infrastructure must meet a set of best practices developed by the American Institute of CPAs (AICPA) which covers Trust Services principles including security, availability, processing integrity, confidentiality, and privacy. It is also something that many of our customers have inquired about, and some require to do business with us.
I am now pleased to announce that, after rigorous outside auditing and complete data migration, GCPay has formally achieved both SOC2 and ISO27001 certifications. The significance of this achievement is very meaningful to your business as well, as it provides you with the peace of mind of knowing that all the financial data that you enter into GCPay is safe, secure, private, and confidential. In other words, you are fully protected from unauthorized access, data breaches, security incidents, and other vulnerabilities.
Now that we are past the biggest hurdle with initial certification our attention and efforts will shift to maintaining our certification, which is updated annually. We are very proud of this achievement in certification and look forward to maintaining our status for years to come. We will continually put our client’s needs first and pursue security measures that further protect you, our client!
The Importance of Inspiring Girls to Build!
Recently we featured an article on the book “Girls Who Build”, a children’s book introducing girls who thrive as they take on a variety of construction jobs in an industry that is traditionally male-dominated. We asked GCPay customers to let us know why they thought this inspiring book was important for children to read and we received some powerful responses. Here are just a few that we’d like to share:
“Nationally, we are still lingering at just 4% women in trades which means that when young people see construction in their community, they may not see any women on site. It's so important for girls to know the options that are available and to see themselves in various careers in the construction industry. Reading about strong women in construction is one way to open their minds to the possibilities. "If you can see it, you can be it!" – Maggie F., S.M. Wilson & Co
“As a young professional who has always worked in a male dominant industry (ice hockey, now construction) I think it is very important for little ones to recognize, beginning early in their youth that they can do and pursue anything they want.” – Keli L., MCP Group
“I think every girl should be taught that she can do whatever she puts her mind to. The younger they learn that fact, the better because then the possibilities are endless as they grow and explore their interests and abilities. No boundaries!” – Shari B., Landmark Builders
“As a woman in construction, I feel very strongly about showing the next generation that the Construction industry is for EVERYONE!” – Stephanie M., R & H Construction
“I think it’s so important for young girls to learn they can conquer the world, even in industries predominately run by men. Girls need to learn at a young age the value they can add to any team they are a part of. For my 13-year-old daughter, I need her to know that the skies the limit and she is fully capable of starting from the ground up.” – Billie O., Truebeck Construction
“I want to let my granddaughters know there are many avenues in the construction industry they can be a part of. It's not all just dirt, heavy equipment, and not just for boys or men.” – Wendy B., S.M. Wilson & Co.
“Women have always been under-represented in the construction industry. I think that showing young girls (and boys!) that women are just as capable from a young age could be transformative!” – Aleisha C., MLB Construction Services
New 2023 AGC Construction Hiring and Business Outlook
The Associated General Survey Contractors of America (AGC) and Sage have just published the results of their Construction Hiring and Business Outlook survey showing that contractors in the US are optimistic about the construction outlook for 2023, yet they are expecting very different market conditions for the coming year than what they experienced in 2022. Click the button below to read and/or download the complete results of the survey.
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